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To Finance Their New Home, the Tiballis Have Agreed to an $80,000

Question 6

Multiple Choice

To finance their new home, the Tiballis have agreed to an $80,000 mortgage loan at 8.75% APR. What will their monthly payments be if the loan has a term of 20 years?


A) $8608.14\$ 8608.14
B) $7000.00\$ 7000.00
C) $706.97\$ 706.97
D) $362.50\$ 362.50
E) $4313.29\$ 4313.29

Correct Answer:

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